Kiwibank Low Rate MasterCard Credit Card

Kiwibank Low Rate MasterCard

The Kiwibank Low Rate MasterCard is a low interest rate credit card that offers a competitive 13.45% p.a. on purchases plus up to 55 interest free days. Also, when you transfer your outstanding balance from another non-kiwibank credit card you pay only 1.99% p.a. for the first 6 months on the balance transferred. If you have significant existing credit card debt this card might be suitable for you. The minimum monthly repayments is 5% or $10 whichever is greater.

Main Features

  • Purchase Rate: 13.45%
  • Cash Advance Rate: 22.95%
  • Balance Transfer: 1.99% p.a. for 6 months
  • Annual Fee: $50 i.e. $25 account fee every six months. $5 fee for a joint or additional cardholder every six months
  • Interest Free Days: 55 days*
  • Card Reward Details: No Rewards
  • Credit Limit: Unknown
IMPORTANT: please review the credit card details on the provider's website again before applying.

Your eligibility for this card would depend on a few criteria listed below. When you apply for the card, Kiwibank would ask you a few questions about these criteria to determine your eligibility.

  • Income
  • Expenses
  • Debts
  • Assets
  • Savings
  • Investments

Note: You have to be a New Zealand permanent resident, and have a good credit history to apply for a Kiwibank Credit Card

Documents Required

In general the following documents are usually required for credit card applications.

Proof of Income

One of the following:
  • your most recent payslip or salary notice
  • copies of bank statements that show your pay or salary deposits
  • a letter from your employer confirming your income
  • an Inland Revenue Department (IRD) “summary of earnings” notice.
If you’re self-employed, you must supply:
  • signed financial statements for the past two years
  • a signed personal Statement of Financial Position
  • your personal tax return.

Proof of Identity

A copy of one or two items from List A. If you provide only one item from List A, you must also provide one item from List B.

List A

  • Current passport
  • New Zealand drivers licence
  • 18+ card
  • Photo Credit Card

List B

  • Most recent bank statement
  • Debit card
  • Credit card
  • Community services card
  • Club or society card.
*Note: If you are looking for a low interest rate credit card, you can compare all the low interest rate credit cards listed on this website on our low interest rate credit cards page. Low interest rate credit cards are card with purchase rates lower than usual (below 15%) and are suitable for people who do not expect to pay off their credit card balance each month to avoid a hefty interest rate charge.

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